Office Suite in Historic
For Sale
$348,000
204-830 Cottageview Dr, Traverse City, MI 49684
Five offices, reception space, and a large open area provide a varied layout for business operations.
Property Size1,731 SF
Price / SF$201.04
Days on Market75
Property Features for 204-830 Cottageview Dr
General Information
Standard status
Active
Size
1,731 SF
Elevators
Yes
Amenities
shared kitchenette
grand balconies
public restrooms
shops and restaurants
Listing Agency:
Coldwell Banker Schmidt Traverse City
Listed By:
Daniel Stiebel · License #6502352362
(231) 922-2350
Source:
Exprealty
Added: Aug 6
Changed: Oct 19
Last Checked: Oct 19 at 2:11PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Schmidt Traverse City
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Investment Insights
Based on property information with market context.
This 1,731-square-foot office unit in Building 50 at the Village of Grand Traverse Commons has two entrances, five individual offices, a reception area, and a large open workspace. A shared kitchenette at the unit entrance includes a refrigerator, microwave, and coffee sink. The 13-foot ceilings and 8-foot windows on both sides bring natural light into the space, with views toward the front lawn and the rear of the building.
Building features include elevator access, two public restrooms, shared parking, and shared use of the grand balconies. Exterior signage is available along Cottageview Drive. Shops and restaurants are located on the building’s lower level.
Building features include elevator access, two public restrooms, shared parking, and shared use of the grand balconies. Exterior signage is available along Cottageview Drive. Shops and restaurants are located on the building’s lower level.
Key Highlights
- 1,731 square feet with two entrances
- Five individual offices, reception area, and large open workspace
- 13' ceilings and 8' windows on both sides of the unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,539
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$370,780
$370.8K
Cap Rate 7%
$264,843
$264.8K
Cap Rate 9%
$205,989
$206.0K
Market Conditions
NOI Build-Up for 1,731 SF
Gross rent
$29.1K $16.80/SF
− Vacancy
−$4.4K −$2.52/SF
EGI
$24.7K $14.28/SF
− OpEx
−$6.2K −$3.57/SF
NOI
$18.5K $10.71/SF
Area
Grand Traverse County, MI
Vacancy
15.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$370,780
Cap Rate 7%
$264,843
Cap Rate 9%
$205,989
Alternative Uses
Best Use
Office B
$264.8K
$231.7K – $309.0K
NOI $18,539 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$376.0K
$329.0K – $438.7K
NOI $26,322 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,418
Businesses Nearby
Explore this area
Business Placement
Demographics for 49684, MI
22,025
Population
10,959
Households
2
Avg Household Size
49
Median Age
46%
College-Educated
96%
High-School Grad
52.8 sq mi
ZIP Area
417
Density / Sq Mi
$75,678
Median Household Income
$39,553
Median Earnings
$1,216
Median Rent
$375,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Five offices, reception space, and a large open area provide a varied layout for business operations.
Where is this office unit located?
The property is located at 204-830 Cottageview Dr Traverse City, MI.
What is the asking price?
The asking price for this property is $348,000.
What are key features of this property?
This property features: 1,731 square feet with two entrances; Five individual offices, reception area, and large open workspace; 13' ceilings and 8' windows on both sides of the unit
